Castlemartyr Hotel Experiences Loss Of Almost €565k

Accounts filed by Castlemartyr Country Hotel Resort Ltd have revealed that the five-star Co. Cork hotel sustained losses of €564,728 in the year that ended on March 31, 2018.

According to The Irish Times, in a statement included with the accounts, the company's directors said that the loss "is in line with expectations due to the nature of any start-up business of this scale".

Revenues And Planned Changes

The company, which began operating in September of 2015, saw its revenues rise 7% from €9.5 million to €10.1 million during the twelve month period. The directors added that a number of changes, including refurbishment and development work, are planned for the hotel in a bid to increase its sales.